AOPEN Correlations
| 3046 Stock | TWD 54.90 1.40 2.49% |
The current 90-days correlation between AOPEN Inc and Sitronix Technology Corp is -0.04 (i.e., Good diversification). The correlation of AOPEN is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
AOPEN Correlation With Market
Good diversification
The correlation between AOPEN Inc and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AOPEN Inc and DJI in the same portfolio, assuming nothing else is changed.
AOPEN |
The ability to find closely correlated positions to AOPEN could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AOPEN when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back AOPEN - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling AOPEN Inc to buy it.
Moving against AOPEN Stock
| 0.81 | 2891 | CTBC Financial Holding | PairCorr |
| 0.77 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.76 | 2317 | Hon Hai Precision | PairCorr |
| 0.72 | 2883 | China Development | PairCorr |
| 0.71 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.67 | 2382 | Quanta Computer | PairCorr |
| 0.65 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.64 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.6 | 2885 | Yuanta Financial Holdings | PairCorr |
Related Correlations Analysis
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